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Pass an order which we can understand- SC to High Court

November 4, 2019 1479 Views 0 comment Print

On perusal of the impugned order, we find it is unintelligible and we could not decipher what has been decided by the High Court. We, accordingly, set aside the order and remit the matter to the High Court. We request the High Court to pass an order which we can understand.

HC order release of Good detained for not showing correct Vehicle number on E-way Bill

November 2, 2019 1836 Views 1 comment Print

Kerala High Court ruling on E-way Bill, goods detention. AMM Aquapure Systems Vs Asstt. STO case details. Read the full judgment.

Role of Key Managerial Personnel (KMP)

November 2, 2019 7692 Views 3 comments Print

As the very name suggest that CS is one of the Key Personnel who manages the Company and is made responsible for the overall Compliance under the Companies Act and other applicable legislation. He has to report to the Board of Directors for timely guidance and strategic planning and perform such other duties as have been specified under various laws or delegated by the board from time to time. Moreover under SEBI norms a CS is regarded as a ’Compliance Officer’ which in itself is a great recognition.

Form 26AS nightmare for the deductee

November 1, 2019 5592 Views 1 comment Print

The data populated in 26AS is the data as per TDS returns uploaded by the deductors/ customers of the company under section 200 . Such data could be relied upon as “correct”  for the purpose of reconciliation  only when the statements of TDS so uploaded  have been processed under section 200A with effect from 01/04/2010.

Preliminary Draft Rules under Section 67 of Code on Wages, 2019

November 1, 2019 2520 Views 0 comment Print

F. No S-32017/01/2019-WC Government of India Ministry of Labour & Employment Shram Shakti Bhawan, New Delhi Date: 01 November, 2019 NOTE Subject: The Preliminary Draft Rules under Section 67 of the Code on Wages, 2019- reg. The Ministry of Labour and Employment has prepared a preliminary draft rule under Section 67 of the Code on […]

Banks cannot claim from Customers amount Lost by them due to Online Fraud

November 1, 2019 8868 Views 0 comment Print

Bank cannot claim any amount from the customer when a transaction is shown to be a ‘disputed transaction’. The bank can recover from the customers only when it can unequivocally prove that the customer was responsible for such transaction, independently through the civil court. The RBI guidelines is a clear mandate to exonerate a customer in such ‘disputed transaction’.

DGFT amends Conditions for refund of deemed export drawback

October 31, 2019 4323 Views 0 comment Print

Refund of drawback on the inputs used in manufacture and supply under the said category can be claimed on ‘All Industry Rate’ of Duty Drawback Schedule notified by Department of Revenue from time to time provided no CENVAT credit has been availed by supplier of goods on excisable inputs or on ‘Brand  Rate Basis’ upon submission of documents evidencing actual payment of basic custom duties.

Extend due date of filing Income Tax Return & Tax Audit Report

October 30, 2019 226896 Views 156 comments Print

Sales Tax Bar Association Request for extension of due date of filing Income Tax Returns and Tax Audit Reports for the Assessment Year 2019-20 to 15th November 2019. Text of the representation is as follows:- SALES TAX BAR ASSOCIATION (REGD.) Office: IInd Floor, Department of Trade & Taxes, Vyapar Bhawan, Indraprastha Estate, New Delhi-110002 EPABX […]

Impact of Non-Performing Assets on Lenders, Borrowers, etc

October 29, 2019 3060 Views 6 comments Print

Non-Performing Assets i.e. ‘NPAs’ are those assets which are not earning adequate returns to the lending institutions. These are generally the bad loans in the books of the lenders, which may occur due to failure to meet the debt obligation on time/default by the borrowers of such loans. Generally the assets i.e. the loans provided […]

Summary of Recent SC, HC, NCLT, NCLAT & IBBI Orders -July-Sep 2019

October 26, 2019 19683 Views 0 comment Print

Supreme Court S3 Electricals and Electronics Private Limited Vs. Brian Lau & Anr. [Civil Appeal No. 103/2018 with Civil Appeal No. 835/2018] On the matter getting settled between the parties, the NCLAT closed the proceedings and directed that AA shall fix the fee of IRP for the period he has worked and that shall be […]

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